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3M (MMM) Stock Moves 1.05%: What You Should Know

In the latest trading session, 3M (MMM) closed at $177.88, marking a +1.05% move from the previous day.

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This story originally appeared on Zacks

3M (MMM) closed the most recent trading day at $177.88, moving +1.05% from the previous trading session. This change traded in line with S&P 500.

- Zacks

Heading into today, shares of the maker of Post-it notes, industrial coatings and ceramics had lost 9.44% over the past month, lagging the Conglomerates sector's loss of 6.79% and the S&P 500's loss of 5.07% in that time.

Wall Street will be looking for positivity from MMM as it approaches its next earnings report date. This is expected to be October 26, 2021. In that report, analysts expect MMM to post earnings of $2.28 per share. This would mark a year-over-year decline of 6.17%. Our most recent consensus estimate is calling for quarterly revenue of $8.89 billion, up 6.45% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.92 per share and revenue of $35.3 billion. These totals would mark changes of +13.5% and +9.68%, respectively, from last year.

Any recent changes to analyst estimates for MMM should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.85% lower within the past month. MMM is currently a Zacks Rank #4 (Sell).

Valuation is also important, so investors should note that MMM has a Forward P/E ratio of 17.74 right now. For comparison, its industry has an average Forward P/E of 18.43, which means MMM is trading at a discount to the group.

It is also worth noting that MMM currently has a PEG ratio of 1.87. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MMM's industry had an average PEG ratio of 1.67 as of yesterday's close.

The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 34% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.



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